Lennar: Overview of First Fiscal Quarter Results

Lennar Corp. Announces First-Quarter Financial Results

Lennar Corp., headquartered in Miami, revealed its financial performance for the first quarter, posting a net profit of $229.4 million.

Earnings per share stood at 93 cents, with adjusted earnings—excluding one-time items—amounting to 88 cents per share.

These figures did not meet analysts’ expectations. According to a Zacks Investment Research survey of seven analysts, the consensus estimate was 96 cents per share.

The company’s revenue for the quarter reached $6.62 billion, which was also below projections. Five analysts polled by Zacks had anticipated revenue of $6.83 billion.